These days, the group is again talking about stablecoin regulation, reserve audits, and various rumors of "de-pegging," which makes people feel tense and uneasy.

Speaking of on-chain privacy, my expectations are quite low: the operations you've performed on the public chain can most likely be pieced together, it's just a matter of "who's willing to put in the effort to monitor you," and don't think of privacy as invisibility.

Don't expect the compliance boundaries to be a one-size-fits-all protective umbrella; it's more like platforms, issuers, and entry points tightening first.
What ordinary users can do, frankly, is to split the risk: don't put all liquidity into one stablecoin/one address/one entry point, leave some off-chain cash flow, and be able to slowly withdraw if necessary.
Anyway, I'm more concerned about whether there are still real users using the platform after the narrative subsides, rather than just shouting "compliance/privacy both prioritized."
Let's leave it at that for now.